CLICK HERE TO VIEW THE WINNERS OF THE 2018 yallacompare BANKING AND INSURANCE AWARDS
The vast majority of UAE residents would recommend their bank to others, according to a survey conducted by yallacompare, the Middle East’s leading comparison site.
The survey, conducted as part of the yallacompare Banking Awards H1 2017, sought to ascertain the leading banks and financial products in the UAE by popular vote, and was taken by over 3,500 UAE residents.
According to the results, over 80% of UAE residents would recommend their bank to others, while over 77% would recommend their primary credit card to others. Just under 12% said they would not recommend their bank to others.
“The results to this survey show that, for the vast majority of people in the UAE, banks are doing a good job. With most banks offering much more mature web- and mobile-based banking services, as well as improving their general levels of customer service, it would appear that UAE banks are keeping the majority of their customers happy,” said Jon Richards, CEO of yallacompare.
The survey also quizzed respondents on what they deem to be the nation’s best financial products, providing the basis for the first yallacompare Banking Awards. The survey asked respondents to vote on which financial products should be named as the most impressive of the year.
In the credit card categories, it emerged that airline co-branded products were consumers’ favourite cards for earning air miles with. The Citibank Emirates Ultima Card was voted as the air miles credit card of the year, while other airline co-branded cards scored highly in the category.
In terms of cashback credit cards, users, unsurprisingly, voted for the cards that gave them the largest sums of cashback. Standard Chartered’s Titanium Card picked up the win, thanks largely to the fact that it offers a market-leading 10% cashback on a variety of purchases.
Likewise, rewards figured highly in the mortgage and Islamic home finance categories, with RAKBANK’s Home In One and Dubai Islamic Bank’s DIB Home products being named winners in their respective categories. These products offer more to consumers than long-term home loans, instead offering complete personal finance packages that allow borrowers to earn benefits from their repayments.
Personal loan provider of the year: ADCB
Islamic personal finance provider of the year: Emirates Islamic
Auto loan provider of the year: Emirates NBD
Islamic auto finance provider of the year: Noor Bank
Home loan provider of the year: RAKBANK
Islamic home finance provider of the year: Dubai Islamic Bank
All-rounder credit card of the year: NBF Platinum Exclusive Credit Card
Debut credit card of the year: Simplylife Family Credit Card
Cashback credit card of the year: Standard Chartered Titanium Card
Air miles credit card of the year: Citibank Emirates Ultima Card
Premium credit card of the year: American Express Platinum Card
Credit card provider of the year: Citibank
Islamic card provider of the year: ADIB
Savings account provider of the year: National Bonds
Sharia savings account provider of the year: ADIB
SME finance provider of the year: RAKBANK
Current account provider of the year: HSBC
Digital bank of the year: CBD NOW
Customer service award: Most satisfying bank of the year: Emirates NBD
About the yallacompare Banking Awards H1 2017
The yallacompare Banking Awards were founded to recognise the efforts made by UAE banks in providing high-quality banking services. Broken down into 19 categories, the awards are an opportunity for UAE banks to celebrate their achievements in creating and maintaining solid financial products that deliver outstanding value and high levels of customer satisfaction. And because the awards are voted on by the public, they provide a stamp of approval from the UAE’s population on the credit cards, loans and bank accounts that exceed customer expectations.
Two methodologies were employed when deciding on the winners of the yallacompare Banking Awards H1 2017. The first saw a comprehensive survey run for the first six months of 2017, with yallacompare users invited to vote on their favourite financial products in each category. In all, over 3,500 user responses were collected, with each response having been vetted to ensure that the respondent was indeed a UAE resident and had access to UAE banking services.
The second methodology saw yallacompare dive into its vast database of site analytics and user searches for financial products. For each award category, the yallacompare insight analysis team ranked the leading financial institutions based on the number of organic page views and the number of organic searches performed for each product. The results from the survey were then cross-referenced with the results from yallacompare’s deep-dive into its site analytics. The results of the user survey were taken as preliminary awards results, with the analytics results in place to either confirm the public decision, or else balance out statistical anomalies.
Scroll down to see more pictures of our management team handing out the awards!